State aid: Commission approves aid-free privatisation of German HSH Nordbank - EU NewsSunday, March 3, 2019
Commission, so that the Commission could verify that these conditions were met.
Today's decision confirms that the sale of HSH by the German Länder of Hamburg and Schleswig-Holstein to a consortium of private equity funds led by J.C. Flowers and Cerberus complies with the requirements set out in the 2016 Commission decision.
Concretely, the Commission found that there is no aid to the buyers since HSH is being sold to the bidders with the highest and most credible offer, in an open and transparent process that resulted in a positive price.
Furthermore, the Commission found that, under its new ownership's business plan, HSH is expected to return to viability. The business plan foresees a significant boost in the bank's profitability thanks to improved asset quality combined with increased efficiency and better cost control. This will ensure that HSH becomes a solvent and viable market player.
In particular, the successful completion of the privatisation will allow HSH to continue to perform its core activities in the market as a restructured and viable entity, without further need of public support.
HSH Nordbank, until now majority-owned by the two German Länder Schleswig-Holstein and Hamburg, ismainly active in the northern and metropolitan areas of Germany and finances, inter alia, energy and infrastructure projects as well as shipping. The latter was one of the main causes for its difficulties during the financial crisis.
In September 2011, the Commission approved the restructuring of HSH Nordbank, including an asset guarantee of€10 billion, subject to conditions. This asset guarantee was reduced by the bank from €10 billion to €7 billion, in order to lower the bank's fee payments on the guarantee.
In June 2013 the Commission provisionally approved the re-i...http://europa.eu/rapid/press-release_IP-18-6561_en.htm
Couple break with pace 214, on Federal road in order to catch a holiday flight - The Crypto Coin DiscoverySunday, March 3, 2019
This is exactly what happened on Monday afternoon, an 89-year-old pensioner in Harrislee (Schleswig-Holstein). The police announced on Wednesday, handed the man a to him unknown woman more than 20,000 euros in a black leather bag.
Thus, had ordered the scammers to the pensioner a Taxi that brought him to his institution in Flensburg city centre. The man took the money and was driven by the taxi driver, the police as a witness, back home, where he handed the sum to the wife. Also, you will be searched by the police. Accordingly, the victim described the fraud as follows:
about 20 to 25 years altcirca 160 to 165 centimeters tall neat appearance
The taxi driver, as well as possible witnesses to the handover of the money are asked to contact 0461 – 484 0 to the police. The information of the officials, have increased the calls to the wrong police or grandchildren in the space of Flensburg in the last two weeks solid. You have knowledge of more than 100 Calls of this kind.
Übach-Palenberg: police to sexual offence witnesses.
In North Rhine-Westphalia, Übach-Palenberg the police after an unknown youth was on Tuesday afternoon, compared to a nine-year-old girl sexually grip. Accordingly, the child was playing on a Playground, when a young man approached and led to a mound of dirt. There, the young people should have stripped the girl.
The officials, according to two strollers, the speeches, the suspects approached in this Moment. This was run then walk. The passers-by took the girl home. Now the police are looking for both after helping a couple, as well as to the unknown youth who is described as follows:
about 15 to 17 years of age, and of robust stature, short, blonde, and upstairs greasy hair, asked to be witnesses at the sides, shorter brown shoes, light brown denim jacket and blue Jeanswar with black-and-white Bicycle on the road
to put under the phone number 02452 920 0.
news of Wednesday, 20. February
Munich: police stops driving school – driving instructor on drugs
During a routine control, the police in Munich have pulled a driving instructor. The officers found the 40-Year-old initially glassy and red eyes, and assumed, therefore, that the man navigated his driving students under the influence of a drug through the streets of the Bavarian capital Navi. The locally made drug-test confirmed this suspicion. The police announced, has been canceled, then the hour’s drive. The rider was allowed to go home. The due blood test should confirm the r...https://www.ccdiscovery.com/couple-break-with-pace-214-on-federal-road-in-order-to-catch-a-holiday-flight
German states finalize privatization of HSH Nordbank - Xinhua | English.news.cn - XinhuaSunday, March 3, 2019
BERLIN, Nov. 28 (Xinhua) -- The German states of Hamburg and Schleswig-Holstein have finalized the sale of HSH Nordbank to a private investment consortium on Wednesday.
"The money has arrived", Hamburg finance minister Andreas Dressel (SPD) revealed at a press conference hosted with his counterpart in Schleswig-Holstein Monika Heinold (Greens).
Nine months ago, the two states agreed to sell their controlling stakes in HSH Nordbank to the U.S. investment firms Cerberus and J.C. Flowers among other private investors. The sale had been ordered by European Union (EU) competition authorities and marks the first ever successful privatization of a regional government-owned bank in Germany.
Following the formal acquisition of HSH Nordbank for one billion euros (1.13 billion U.S. dollars), the bank will be renamed in Hamburg Commercial Bank from February 2019. A new supervisory board has also been nominated.
HSH Nordbank chief executive officer (CEO) Stefan Ermisch said in a statement that the "successful switch from public-sector to exclusively private-...http://www.xinhuanet.com/english/2018-11/29/c_137638058.htm
Der Weg für den Verkauf der HSH Nordbank ist freiWednesday, October 17, 2018
HSH Nordbank steht nichts mehr im Weg: Nach mehrmonatigen Verhandlungen ist auch die letzte noch offene Frage der künftigen Sicherung von Kundengeldern geklärt. Damit können Schleswig-Holstein und Hamburg ihre einst hoch defizitäre Landesbank wie schon im Februar vereinbart an vier Investoren um die Firmen Cerberus und JC Flowers veräußern. „Ein weiterer bedeutender Stein ist aus dem Weg geräumt, freute sich am Donnerstag die grüne Kieler Finanzministerin Monika Heinold. „Ich bin zuversichtlich, dass der Verkauf nun bis Ende des Jahres über die Bühne gehen kann.
Zuvor hatten sich in dieser Woche der Privatbankenverband BdB und der Deutsche Sparkassen- und Giroverband DSGV unter Mitwirkung der Länder und Käufer auf eine Regelung zum Übergang der Einlagensicherung geeinigt. „Wir haben den Durchbruch geschafft, verkündete BdB-Präsident Hans-Walter Peters im Handelsblatt. Bei der Einlagensicherung geht es um den Schutz der Kundengelder im Fall einer Bankenpleite.
Weiterlesen: HSH Nordbank mit Verlust – Verkaufsabschluss im 4. Quartal
Bisher gehörte die staatliche HSH dem Sicherungsfonds der Landesbanken und Sparkassen an. Doch künftig muss sie zu den Privatbanken wechseln. Deren Fonds aber gewährt Kunden von neuen Mitgliedern nicht sofort den vollen Schutz von bis zu 20 Prozent des Eigenkapitals der jeweiligen Bank, sondern garantiert in ...https://www.shz.de/regionales/schleswig-holstein/wirtschaft/der-weg-fuer-den-verkauf-der-hsh-nordbank-ist-frei-id21310027.html